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			<h2 class="toptitle">Learning Center</h2>
            
            <h2 class="acc_trigger"><a href="#">What is Forex?</a></h2>
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                    	<p><strong>The Forex Market</strong></p>
                        <p>Unlike other financial markets, the foreign exchange (Forex) market has no central location. There is no stock exchange and there are no set market hours. Rather, the Forex market is an electronic network of approximately 5,000 banks around the world that exchange money through electronic trading systems. It is a global market and, as such, operates 24 hours a day, from Sunday through Friday, corresponding with the opening and closing of financial centers around the world. Any time, day or night, there should be buyers and sellers somewhere in the world.</p>
                        <p>The 24 hour market means that exchange rates and market conditions can change at any time in response to developments that can take place at any time. Traders must be alert to the possibility that a sharp move in an exchange rate can occur during an off hour, elsewhere in the world.</p>
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            <h2 class="acc_trigger"><a href="#">Fundamental Analysis</a></h2>
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                    	<p>Aside from technical analysis, another primary approach to analyzing currency market fluctuations is called fundamental analysis. Fundamental analysis is the examination of economic indicators, asset markets and political considerations when evaluating a nation's currency in terms of another. The key to fundamental analysis is to gather and interpret this information and act before the information is incorporated into the currency price. The lag time between an event and its resulting market response presents a trading opportunity for the fundamentalist.</p>
                        <p>There are thousands of fundamental factors that have an impact on the Forex market, from the price of oil to the dealings of Central Banks. Obviously some factors will have a larger impact on price movements than others, and the following examples of powerful fundamental factors will provide you with a solid foundation. Fundamentals affect the supply and demand of a currency. We have outlined several fundamental factors that have influenced the Forex market in the past, shaping the future direction of any given currency or the market as a whole. Each fundamental analysis tool is based on an underlying fundamental factor that will give you a glimpse into the future movements of a currency. Monitoring the changes in these fundamental tools will give you advance warning of reversals and continuations of trends.</p>
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                        	<li>Decisions on interest rates made by central banks such as the US Federal Reserve or the European Central bank (ECB) monthly. </li>
                            <li>Quarterly GDP figures. Only preliminary national GDP figures generally have the effect of changing market sentiment. </li>
                            <li>Market sentiment data. Market expectations are formed from one week to two days before the event. Participants become well positioned based on expectations. If the figures are not a surprise, profit taking is often the only result. </li>
                            <li>Political Events. National elections, the September 11th attacks, and the war in Iraq are examples of events that have affected currency values.</li>
                            <li>Major indices. Inflation indices, Institute of Supply Management (ISM) in the US and the Purchasing Management Index (PMI) in Europe are also carefully followed by traders.</li>
                            <li>National industrial production figures US non-farm payrolls (indicating new jobs created), Michigan
 sentiment figures in the US, the western German business climate or IFO index, and the Tankan quarterly survey in Japan</li>
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            <h2 class="acc_trigger"><a href="#">The Traded Currencies</a></h2>
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                    	<p>The Dollar, Euro, Yen, and Pound are the most traded currencies. They combine for a huge bulk of the trading transactions in any given day. Corporations and banks have known this for years, and have often used Forex for hedging purposes. With the increase in global trade, multinational corporations have used the Forex market to manage their risk in changes in currency rates. The most common currency pairs are EUR/USD, USD/JPY, GBP/USD, and USD/CHF, which together totals 63 % (two-thirds) of all Forex spot trades</p>
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            <h2 class="acc_trigger"><a href="#">Forex Trading</a></h2>
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                    	<p>A large portion of all foreign exchange deals are done in the spot Forex market and that is where GFS Forex & Futures operates. A spot transaction represents a direct exchange of one currency for another at the current rate. It is important to know that when buying currencies in the spot market, you are not actually purchasing a big pile of cash or coins, rather you are purchasing a bank deposit denominated in the particular currency at a bank in the particular country.</p>
                        <p>The term "Foreign Exchange" refers to the simultaneous buying of one currency and selling of another, which is why currencies are always quoted and traded in pairs. An example would be Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY). In order to buy a particular amount of the first (or base) currency, you must sell a certain amount of the second (or terms) currency. That certain amount of the second currency you must sell is determined by the exchange rate. The forces of supply & demand in the market determine the exchange rate. Every currency pair has a different unique exchange rate.</p>
                        <p>In the foreign exchange market there are always two prices for every currency - one price at which sellers of that currency want to sell, and one price at which buyers of the currency want to buy. The buying price is called the bid and the selling price is called the ask. The difference between the bid and ask prices is called the spread. A market maker must quote both a bid and an ask price for any currency for which he is making a market. </p>
                        <p>All Forex transactions involve two currencies. You are simultaneously buying one currency and selling the other in the pair. The first currency in any given pair (e.g. EUR/USD) is called the base currency and the second is called the quote currency. A trader always buys or sells a fixed amount of the base currency, in standard lots of 100,000 units. For example, if a trader buys EUR/USD, he is buying 100,000 Euros and selling the necessary amount of US Dollars as prescribed by the current exchange rate. When speaking, the base currency is always stated first. For example, a quote for "Dollar-Yen" means that the Dollar is the base currency in the pair. Traders always think in terms of how much it costs to buy or sell the base currency, so bid and offer quotes are always for the base currency.</p>
                        
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            <h2 class="acc_trigger"><a href="#">The Traded Currencies</a></h2>
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                    	<p>The Dollar, Euro, Yen, and Pound are the most traded currencies. They combine for a huge bulk of the trading transactions in any given day. Corporations and banks have known this for years, and have often used Forex for hedging purposes. With the increase in global trade, multinational corporations have used the Forex market to manage their risk in changes in currency rates. The most common currency pairs and their respective percentages of spot Forex trades are EUR/USD (28%), USD/JPY (17 %), GBP/USD (14 %), and USD/CHF (4 %), which together totals 63 % (two-thirds) of all Forex spot trades.</p>
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            <h2 class="acc_trigger"><a href="#">Analysis Overload</a></h2>
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                    	<p>The equity and futures markets offer an incredible selection of different investments to choose from. There are literally tens of thousands of stocks and mutual funds, and hundreds of commodities to trade. The Forex market is much simpler to monitor. You really only need to keep track of 5 different currencies, the Euro, the Yen, the British Pound, the Swiss Franc, and the US dollar. The 2 other major currencies trades are the Australian and Canadian Dollars, leaving an analysts with at the most 7 currency pairs to study.</p>
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            <h2 class="acc_trigger"><a href="#">Leverage</a></h2>
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                    	<p>Leverage is the use of various financial instruments or borrowed capital, such as margin, to increase the potential return of an investment. The leverage available in Forex trading is one of main attractions of this market for many traders. Leveraged trading, or trading on margin, simply means that you are not required to put up the full value of the position. Forex provides more leverage than stocks or futures. In Forex trading, the amount of leverage available can be up to 100 times the value of your account. With leverage, you can capture higher returns on a smaller market movement. More importantly, leverage allows traders to increase their buying power and utilize less capital to trade. Of course, increasing leverage increases risk.</p>
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            <h2 class="acc_trigger"><a href="#">Trending market</a></h2>
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                    	<p>Currencies rarely spend time in tight trading ranges and have the tendency to develop strong trends. Much of the volume is speculative in nature, and a technically trained trader can easily spot new trends and breakouts, which provide many opportunities to enter and exit the market for profit</p>
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            <h2 class="acc_trigger"><a href="#">Low transaction costs</a></h2>
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                    	<p>The spot foreign currency markets eliminate exchange and clearing fees, which in turn lowers transaction costs. The efficiency created by a purely electronic marketplace enables clients to directly deal with the market maker, eliminating both middle men, and ticket costs. Under normal market conditions, the spot foreign currency markets offer round the clock liquidity providing traders with tight spreads during both intraday and overnight trading.</p>
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            <h2 class="acc_trigger"><a href="#">Ability to profit in Bull or Bear markets</a></h2>
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                    	<p>Unlike the equity market, there is no restriction on short selling in the currency market. Profit potential exists in the currency market regardless of whether a trader is long or short, or which way the market is moving. This means a trader has equal potential to profit in a rising or falling market.</p>
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            <h2 class="acc_trigger"><a href="#">Why Trade Forex?</a></h2>
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                    	<p><strong>Explore the opportunity to trade foreign currencies just like the banks and major financial institutions!</strong></p>
                        <p>The Foreign Exchange market (FX) is the largest, most liquid financial market in the world, roughly 20 times larger than the combined volume of all U.S. equity markets with a daily trading volume over $3 trillion. In years past, the world's largest commercial banks have dominated the FX market, offering Interbank dealing spreads to only their largest customers. With the advent of online trading, both retail and smaller institutional participants now have indirect access to this market through registered Forex Dealer Merchants, like GFS, who act as counter parties to, and remain responsible for, all customer FOREX transactions.</p>
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            <h2 class="acc_trigger"><a href="#">Market Liquidity</a></h2>
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                    	<p>The Forex market is the most actively traded market in the world, 24 hours a day from Sunday night until Friday afternoon. This liquidity provides currency traders with the ability to enter and exit trades regardless of the size of the transaction.</p>
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        <p style="padding:10px; float:left;">Foreign Exchange (Forex) is a high risk investment. Trading in the foreign exchange markets on margin carries a high level of risk, and may no be suitable for all individuals. the high degree of leverage offered in the Forex markets can work against you as well as for you. Before devising to trade in the foreign exchange markets you should carefully consider your investment objectives, your level of experience, and your risk appetite. The possibility exists that you could sustain loss of some or all of your equity and therefore you should not invest money that you cannot afford to lose. Only true discretionary cash should be used in trading. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle.</p>
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